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Mortgage brokers unfazed by OCR hike

Thursday 29th of April 2004

Mortgage brokers are predicting any fallout from today's rise of the official cash rate will be insignificant.

The Reserve Bank has increased the OCR by a quarter of a percent taking it to 5.5 percent, the highest in the developed world.

Broker Mike Pero says demand for houses may slow down a little as interest rates rise.

He says people still want to buy, and are prepared to take the good with the bad.

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